Zenitel, provider of instant and secure audio and data communication, announced its results for the fiscal year ended 31 December 2016.
Zenitel, provider of instant and secure audio and data communication, announced its results for the fiscal year ended 31 December 2016.
- Total revenue amounted to US$67.4 million compared to $70.6 million euro in 2015.
- EBITDA was $5.09 million, which is in line with last year.
- EBIT amounted to $2.65 million, compared to $2.76 million in 2015.
- Net profit from continuing operations was $2.76 million, against $2.3 million last year.
- Financial cash position of $20.3 million at the end of the year, compared to $18.69 million at the end of 2015.
Kenneth Dastol, CEO of Zenitel, commented: “We are very pleased with the operational performance of the Group in 2016. Last year, we announced to change our reporting methodology as the technology is moving faster and faster. Therefore, we decided to expense all R&D costs directly into the P&L. In 2015 we capitalized $1.06 million. When we apply the new methodology to the 2015 figures, we have a 22.0% improvement on EBITDA in 2016.
Reduced investments in the Oil and Gas industry have impacted Zenitel’s business in 2016, hence the decrease in revenue (- 4.5%). However, as our strategy is to focus on several business markets and geographies, we have been able to partly compensate the reduced activity in the Oil and Gas markets with increased returns from the Building Security and Public Safety markets.
Despite the challenging economic circumstances, the commitment of our loyal customers and partners around the world and the dedication of our employees, have allowed Zenitel to continue delivering profitable growth figures. Even if the global economic environment will remain uncertain in 2017, Zenitel will stay focused on its strategy and continue to optimize its operations.”